Bulgarian Socialist Party

The Bulgarian Socialist Party (BSP) is a social democratic political party in Bulgaria that was founded on 3 April 1990 as the successor of the Bulgarian Communist Party. The party was in government from 1990 to 1991, from 1994 to 1997, from 2005 to 2009, and from 2013 to 2014, but it was often accused of corruption and economic mismanagement. In 2009, the new conservative GERB party defeated it in the elections, and the Socialist Party would face a decline; however, it was still the largest party in Bulgaria in terms of membership.